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a. Income statement b. Statement of retained earnings Balance sheet.

a. Income statement b. Statement of retained earnings Balance sheet.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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& Manag Acct Module 1 Pre Test list 1 2 3 1 K Net Income b. Prepare Picture Gallery's statement of retained earnings. Picture Gallery works weddings and prom-type parties. The balance of retained earnings was $12,000 at December 31, 2017. At December 31, 2018, the business's accounting records show these balances (Click the icon to view the accounts.) Retained Earnings, December 31, 2017 ( Question 3 of 6 a. Prepare Picture Gallery's income statement. (If a box is not used in the table leave the box empty; do not select a label or enter a zero.) Accate > Ilahilitiae Data table Insurance Expense Cash Retained Earnings, December 31, 2018 c. Prepare Picture Gallery's balance sheet. (If a box is not used in the table leave the box empty; do not select a label or enter a zero.) (IT) Accounts Payable Advertising Expense Service Revenue Dividends Prepare the following financial statements for Picture Gallery for the year ended December 31, 2018 Income statement 0. b. Statement of retained earnings C. Balance sheet S 7,000 35,000 6.000 This quiz: 19 point(s) possible This question: 5 point(s) possible 2,000 85,000 15,000 Print Accounts Receivable Notes Payable Retained Earnings, Dec. 31, 2018 Salaries Expense Equipment Common Stock Done S Thiera Latai Cantrell 11/1 - X 11,000 16,000 ? 22,000 53,000 26,000
Transcribed Image Text:& Manag Acct Module 1 Pre Test list 1 2 3 1 K Net Income b. Prepare Picture Gallery's statement of retained earnings. Picture Gallery works weddings and prom-type parties. The balance of retained earnings was $12,000 at December 31, 2017. At December 31, 2018, the business's accounting records show these balances (Click the icon to view the accounts.) Retained Earnings, December 31, 2017 ( Question 3 of 6 a. Prepare Picture Gallery's income statement. (If a box is not used in the table leave the box empty; do not select a label or enter a zero.) Accate > Ilahilitiae Data table Insurance Expense Cash Retained Earnings, December 31, 2018 c. Prepare Picture Gallery's balance sheet. (If a box is not used in the table leave the box empty; do not select a label or enter a zero.) (IT) Accounts Payable Advertising Expense Service Revenue Dividends Prepare the following financial statements for Picture Gallery for the year ended December 31, 2018 Income statement 0. b. Statement of retained earnings C. Balance sheet S 7,000 35,000 6.000 This quiz: 19 point(s) possible This question: 5 point(s) possible 2,000 85,000 15,000 Print Accounts Receivable Notes Payable Retained Earnings, Dec. 31, 2018 Salaries Expense Equipment Common Stock Done S Thiera Latai Cantrell 11/1 - X 11,000 16,000 ? 22,000 53,000 26,000
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